Exemption in CA Final ?

If an student gets marks as below in 1st attempt:-

I - 65, II - 40, III - 43, IV - 42 Total = 190. Aggregate < 50% ⇒ Fail

Since the student has got marks ≥ 60% in Paper I and has also got the minimum required in other papers i.e. ≥ 40% in Papers II, III and IV, he/she will be exempted from appearing in Paper I in the subsequent examinations.

Now in second attempt :- II - 44, III - 60, IV - 42. Total = 146. Whether fail or PASS ??

IS IT NECESSARY TO GET MINIMUM150 IN NEXT ATTEMPT IF 1 PAPER IS EXEMPT ??